SUN Savings Bank accelerated its growth momentum in the second quarter of 2025, delivering higher growth in profits, loans, and deposits, in the process outperforming the thrift banking industry in certain key indicators.
As of June 2025, Sun Savings Bank’s net income surged 55 percent to P43.6 million from P28 million in the same period last year, far outpacing the industry’s nine percent growth rate in profits. This strong profitability increased the bank’s return on equity to 14.3 percent, ahead of the industry’s 11.8 percent.
The bank’s total assets rose by 20 percent, reaching P4.3 billion from P3.6 billion a year earlier. This was driven largely by a 23 percent expansion in the loan portfolio to P3.7 billion, representing 86 percent of total assets. Credit quality remained strong, with a non-performing loan ratio of 2.8 percent, well below the industry average of 6.3 percent.
Customer deposits increased 28 percent to P3 billion from P2.3 billion in June 2024. The P3 billion deposit level represents a milestone in the growth of the bank’s deposits, reflecting the strong confidence of the public on the bank and its rewarding deposit products.
The bank’s liquidity remained high with minimum liquidity ratio at 28.8 percent, way above the BSP’s requirement of 20 percent. Furthermore, with a capital adequacy ratio of 16.4 percent, which is above the BSP’s 10 percent regulatory minimum, the bank can continue to spur the growth of its loans and assets.
The quarter also marked the strategic opening of its ninth branch in Moalboal, strengthening the presence of the bank in the southwestern section of Cebu. This new Moalboal branch now enables the bank to cover the entire province of Cebu. With the upcoming opening of a new branch in Dumaguete, Negros Oriental, the bank will now have its first branch outside Cebu.
The bank is currently completing its transfer to a new digital core banking system, which will enable it to offer digital banking products and services. This new core banking system will also enable the bank to have a new digital mobile banking app.
With its solid financial performance, expanding physical presence and digital initiatives, Sun Savings Bank is marching forward to deliver accessible, secure, and rewarding banking services. / PR